Pipavav Shipyard allots 25221612 Convertible Share Warrants

Pipavav Shipyard Ltd has announced that in terms of the Special Resolution passed by the Members of the Company at the Extraordinary Meeting held on September 07, 2010, the Securities Allotment & Transfer Committee of the Board of Directors of the Company at its Meeting held on September 22, 2010, has allotted for cash 2,52,21,612 convertible Share Warrants of face value of Rs. 99.10 (Rupees Ninety Nine & Paise Ten Only) each, on a preferential basis, to SKIL Infrastructure Ltd, each convertible into on fully paid-up Equity Share of the Company.

The stock was trading at Rs.103.25, up by Rs.1.50 or 1.47%. The stock hit an intraday high of Rs.104 and low of Rs.100.25.

The total traded quantity was 512972 at an average price of Rs 102.21.

Source : Equity Bulls

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